Lannett Company, Inc. (NYSE:LCI) major shareholder David Farber sold 10,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $26.88, for a total transaction of $268,800.00. Following the completion of the sale, the insider now owns 4,191,269 shares in the company, valued at approximately $112,661,310.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
David Farber also recently made the following trade(s):
- On Tuesday, December 5th, David Farber sold 9,816 shares of Lannett stock. The stock was sold at an average price of $30.05, for a total value of $294,970.80.
- On Wednesday, November 8th, David Farber sold 10,000 shares of Lannett stock. The shares were sold at an average price of $25.03, for a total value of $250,300.00.
Shares of Lannett Company, Inc. (NYSE:LCI) traded down $0.25 during trading on Thursday, reaching $29.00. The company’s stock had a trading volume of 851,400 shares, compared to its average volume of 800,800. The company has a quick ratio of 1.90, a current ratio of 2.52 and a debt-to-equity ratio of 1.44. Lannett Company, Inc. has a 12-month low of $14.90 and a 12-month high of $30.20. The firm has a market capitalization of $1,101.77, a PE ratio of 10.87, a PEG ratio of 2.44 and a beta of 2.85.
Lannett (NYSE:LCI) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.08. The business had revenue of $155.00 million for the quarter, compared to analyst estimates of $153.62 million. Lannett had a return on equity of 18.23% and a net margin of 6.67%. Lannett’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. analysts expect that Lannett Company, Inc. will post 2.99 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue grew its position in Lannett by 77.6% during the second quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock worth $117,000 after buying an additional 2,513 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in Lannett by 4.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock worth $142,000 after buying an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Lannett by 49.6% during the second quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock worth $188,000 after buying an additional 3,061 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in shares of Lannett in the 3rd quarter worth about $188,000. Finally, Hartford Investment Management Co. purchased a new position in shares of Lannett in the 3rd quarter worth about $212,000. Institutional investors own 97.27% of the company’s stock.
LCI has been the subject of several analyst reports. ValuEngine upgraded Lannett from a “hold” rating to a “buy” rating in a research report on Saturday, November 25th. Zacks Investment Research cut Lannett from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BMO Capital Markets upped their price objective on Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, November 13th. Oppenheimer reissued a “hold” rating on shares of Lannett in a report on Wednesday, August 23rd. Finally, Roth Capital set a $27.00 price objective on Lannett and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.80.
TRADEMARK VIOLATION WARNING: This news story was originally posted by Stock Observer and is the property of of Stock Observer. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.thestockobserver.com/2017/12/07/insider-selling-lannett-company-inc-lci-major-shareholder-sells-268800-00-in-stock.html.
Lannett Company Profile
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.
Receive News & Ratings for Lannett Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.